Enterprises of all sizes are increasingly looking to adopt generative AI to increase efficiency and reduce time spent on repetitive tasks.
Understanding the essential components of an AI solution is crucial.
The foundation of any effective gen AI system is data.
Businesses can use off-the-shelf chatbots powered by large language models (LLMs) like Google’s Gemini or OpenAI’s ChatGPT without inputting any company data, but feeding these with your company’s data would provide better benefits.
Once you have identified the data, the next step is selecting an appropriate LLM to power AI system.
An open-source LLM is the way to go if you prefer hosting a model on your own private infrastructure for enhanced control and data security.
Using a retrieval augmented generation (RAG) framework is essential to create relevant answers for a chatbot or AI system.
The RAG framework is particularly useful for enterprises that need to integrate proprietary company data stored in various formats.
Technical expertise is still required for the implementation of AI, and development costs for a basic chatbot range from $15,000 to $30,000.
The AI system will need regular maintenance, and maintenance costs can start at $5,000 per month.